Summary

• Small-cap growth companies often operate in dynamic, high-potential markets where innovation and execution can produce rapid scaling.
• A positive surprise occurs when a company delivers results or provides signals that meaningfully exceed consensus expectations, thereby raising the market's view of its sustainable growth rate.
• Including positive surprise in an investment framework provides a foundation for identifying these opportunities before they are fully reflected in market prices.

By Christopher Corbett, CFA, Portfolio Manager | Phil Wood, Managing Director, Head of Equities client portfolio management | Marc R. Shapiro, Portfolio Manager

Why small-cap growth is about expectations, not just earnings

Small-cap growth companies

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